The evolution of bank credits in March 2025, according to NBM data, shows growth both in volume and value. The volume of newly granted credits amounted to 7.4 billion lei, exceeding February’s figures by 16.7%. Borrowings with terms from 2 to 5 years are popular, and the main borrowers are individuals. And only one third of the issued loans went to legal entities. Although the NBM, according to banks’ reports, registered in March a higher number of applications of enterprises for borrowing (+15%).
The average nominal rate on newly issued credits in national currency increased by 0.19 p.p. compared to the previous month and amounted to 8.6%. On loans in foreign currency slightly decreased, amounting to 5.6%.
In March 2025, individuals took loans worth over 2.3 billion lei (+9% vs. February). More than half (58%) was taken for consumer purposes. The main purpose is the acquisition of real estate (42% of funds issued to individuals).
The average interest rate on consumer loans increased slightly: from 10.4% in the fourth quarter of 2024 to 10.6% in the first quarter of 2025. The difference is too small to discourage the population. For real estate loans, it is 7.12%.
Despite the NBM’s efforts to reduce the inflationary pressure of consumer lending, it continues to grow at a record pace. Despite some tightening of the monetary policy after the new wave of inflation, the banks’ “liquidity release” is made at a “reasonable” price and at an increasing rate.
Consumer credit to GDP ratio: 2021 – 4.4%, 2024 – 4.6%, first quarter of 2025. – 4,7%. Over the last 12 months, consumer loans totaling over 15 billion lei were issued.
